Penserra Capital Management LLC Acquires 6,263 Shares of Millrose Properties, Inc. $MRP

Penserra Capital Management LLC increased its holdings in Millrose Properties, Inc. (NYSE:MRP) by 262.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,647 shares of the company’s stock after purchasing an additional 6,263 shares during the period. Penserra Capital Management LLC’s holdings in Millrose Properties were worth $246,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MRP. MassMutual Private Wealth & Trust FSB grew its stake in shares of Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after purchasing an additional 575 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Millrose Properties in the 1st quarter valued at $27,000. Summit Securities Group LLC bought a new stake in Millrose Properties in the first quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in Millrose Properties during the first quarter worth $29,000. Finally, First Financial Corp IN bought a new position in shares of Millrose Properties during the second quarter valued at $32,000.

Insider Buying and Selling at Millrose Properties

In other news, Director Patrick J. Bartels, Jr. acquired 7,500 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average cost of $32.52 per share, with a total value of $243,900.00. Following the acquisition, the director owned 30,660 shares of the company’s stock, valued at $997,063.20. This trade represents a 32.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew B. Gorson bought 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average price of $32.69 per share, for a total transaction of $81,725.00. Following the completion of the transaction, the director owned 18,160 shares in the company, valued at approximately $593,650.40. This trade represents a 15.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 10,476 shares of company stock worth $341,024 in the last ninety days.

Millrose Properties Trading Down 1.0%

Shares of NYSE MRP opened at $31.85 on Thursday. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00. The company has a 50-day moving average of $33.04 and a two-hundred day moving average of $30.69. The company has a market cap of $5.29 billion and a PE ratio of 18.73. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were given a dividend of $0.73 per share. The ex-dividend date was Friday, October 3rd. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 dividend on an annualized basis and a dividend yield of 9.2%. Millrose Properties’s dividend payout ratio is presently 171.76%.

Analyst Ratings Changes

Several research firms have recently weighed in on MRP. Citizens Jmp initiated coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Citigroup raised their price objective on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JMP Securities started coverage on Millrose Properties in a research report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.38.

Millrose Properties Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.